US Bitcoin ETFs could boast of inflows of as much as USD 129.45 million yesterday. Is this a sign of growth?
Bitcoin ETFs with proceeds
US BTC ETFs have enjoyed record capital inflows in their first few months of operation (the exception being the Grayscale Bitcoin Trust ETF). There were some withdrawals after that, but on July 1, a net $129.45 million was paid into the funds. This is the highest since June 7. Yesterday, the price of BTC also rose to $63,000. However, it has now fallen to $62,650.
SoSo Value data shows that the largest inflow was recorded by Fidelity’s Wise Origin Bitcoin Fund (1,030 BTC worth $65 million). Second place went to the Bitwise Bitcoin ETF with 650 BTC worth $41 million. In turn, the ARK 21Shares Bitcoin ETF received 205 BTC worth $13 million. Interestingly, BlackRock iShares Bitcoin Trust and GBTC – the two largest spot bitcoin ETFs by net assets under management – saw… zero inflows on Monday, June 1.
July is a good time for bitcoin
Many analysts point out that July has historically been a good month for bulls. However, in June we saw the opposite. Declines dominated. In addition, the value of withdrawals in ETFs was significantly higher than the value of deposits.
However, the stock markets are once again dull. One bitcoin costs $62,650, down 0.47% in a day and up 2% in 7 days.
Ether ETFs should be launched in a few days. However, there is no optimism on the market. 1 ETH costs 3438 USD, which means a drop of 1% since yesterday and a jump of 1.8% on a weekly basis.
Sentiment remains… uncertain. Bitcoin Fear and Greed Index is at 51, or market indifference.
In turn, the ether barometer shows 49, or also indifference.
